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Robert Keach Discusses Bankruptcy Auction Strategy in Law360
Law360
Verrill attorney Robert Keach spoke with Law360 article examining the complex bankruptcy auction process that resulted in the sale of 23 summer camps for approximately $377 million as part of the Chapter 11 proceedings involving SIMAD Holdings.
In the article, “The Joy And Agony Behind The 5-Day Summer Camp Auction,” he discussed considerations that can factor into determining the highest and best offer in a bankruptcy sale process, including a bidder’s likelihood of closing and the potential impact on stakeholders. He also noted that the auction structure, which allowed for both individual and portfolio bids, was an effective approach for maximizing value in a complex sale.
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